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China's steel demand will continue to grow from 2020 to 2021

China's steel demand will continue to grow from 2020 to 2021. Summary of short-term steel demand forecast issued by the World Steel Association in June:
1. In 2020, global steel demand will decrease by 6.4% and the total volume will drop to 1.654 billion tons. In 2021, global steel demand recovered to 1.717 billion tons, up 3.8% year on year;
2. China's steel demand in 2020 will increase by 1.0% year on year, and the "new infrastructure" will support the demand for steel in 2021;
3. The demand for steel in developed economies will decrease by 17.1% in 2020, and the demand for steel in some developed economies will increase by 7.8% in 2021;

4. The steel demand of developing economies (excluding China) will decrease by 11.6% in 2020, with a recovery of 9.2% in 2021;
5. In 2020, the steel demand of the Commonwealth of Independent States (CIS) shrank seriously, and there will be a moderate recovery in 2021;

6. The recession of construction industry may not be as serious as that during the world financial crisis, but the steel demand of mechanical equipment industry will drop sharply and face the challenge of recovery in the longer term. The auto industry is the worst victim of the crisis and sales will fall another 20% from the previous two years.